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SiriusXM forecasts $8.75B revenue, down from $9.1B, due to weaker advertising market, competition, and lower subscriber numbers.
SiriusXM has forecasted a weaker annual revenue, particularly due to uncertainties in the advertising market and strong competition.
The company, which recently launched a streaming app in order to gain new subscribers amidst competition from Spotify and YouTube, is currently experiencing depressed subscriber numbers and a decrease in average revenue per user.
As a result, SiriusXM's projected full-year revenue has been reduced to approximately $8.75 billion, lower than the previous expectations of $9.1 billion.
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SiriusXM pronostica ingresos de 8.750 millones de dólares, frente a 9.100 millones de dólares, debido a un mercado publicitario más débil, la competencia y un menor número de suscriptores.